Economists and investors are voicing concerns over increased inflation they believe is partially fueled by stimulus payments.
Reports from the Bureau of Labor Statistics said the U.S. Consumer Price Index climbed one percent on a seasonally adjusted basis in March, a greater rise than expected.
The highest spike was seen in gasoline prices, which jumped 8.8 percent.
These concerns came after Biden’s $1.9 trillion American Rescue Plan was criticized by GOP lawmakers for the damage it would do to the economy.
